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Over the years, cryptographic space has seen many opponents. Many skeptics have criticized the existence of digital currencies and have called them several names, such as scams, bubbles and fraud. The register of XRPs has also been criticized in particular. Many opponents claim that XRP's blockchain is centralized around Ripple Inc.
The decentralization of Blockchain XRP is growing
Ripple Inc. is a blockchain company that aimed to provide fast, economical and secure solutions for cross-border settlements. XRP (XRP) has recently reached a new level of decentralization. Ripple Inc. now controls only 27% of the validation nodes on the default UNL (Unique Node List). This would result in a higher level of use of trusted third party blockchain, thus eliminating control from Ripple.
Ripple Inc. was responsible for most of the network validation nodes. As such, many believed that XRP was centralized around Ripple. Another reason many believe that the XRP blockchain is centralized around Ripple is that most of the XRPs in supply are controlled by Ripple.
Ripple controls about 53 billion XRP tokens. However, the company blocked the tokens in a smart warranty contract. This means that the company can not withdraw the tokens when they want. Even if the company wants to withdraw the tokens from the commitment, the transaction should be approved and validated by 78% of the remaining nodes.
As the company gradually loses control over XRP's validation nodes, it would be impossible for the company to withdraw the tokens from the commitment. This further reduces the problem of decentralization on the XRP blockchain.
Validators on the list of unique XRP nodes
There are new validators in the XRP Unique Node List. Some of the new validators include Alloy.ee, Bitso, NTT Communications and Coil. Alloy.ee is an application hosting service that specializes in hosting productivity apps. Bitso is a digital currency trading platform and partner of xRapid. NTT Communications is a global provider of information and communication technology services. Coil is a company specializing in the use of XRP and Interledger Protocol to offer micropayments to online content creators.
Other validators include BREX, Bahnhof and Business Register Exchange. Companies like AT Tokyo – one of the best companies in the data center industry – and Worldlink also runs a validator on the Unique Node List. Worldlink is a global company that provides consulting, management and talent solutions.
Some validators are managed by several universities all over the world and are part of the University Blockchain Research Initiative of Ripple. Among these, the Korea University Blockchain Security Research, the University of Nicosia in Cyprus and the Information Technology and Telecommunications Center of the University of Kansas.
Price XRP (XRP) today – XRP / USD
At the time of writing, XRP (XRP) is trading at $ 0.309 after an increase of about 1.5 percent over the past twenty-four hours. Moreover, the current market capitalization of the digital currency is $ 12.67 billion and its trading volume in the last twenty-four hours is $ 571.67 million.
